Nifty Metals Index

The Nifty metal index is subdividing into wave 2 of 3 which will be followed by wave 3 of 3. While it may look like an ABC correction is done, the momentum indicator is still not back to zero. So there is some room for a consolidation or a slight dip back to the 61.8% retracement mark of the last rally from the December low at 3212. We simply have to wait for wave 2 to be complete or a clear sign that wave 3 up started